Examlex
Which of the following are part of a commercial bank's reserves?
I. cash in the bank's vaults
II. loans
III. cash in checking accounts
Output
The total amount of goods or services produced by a person, machine, or industry.
Total Fixed Cost
The sum of all expenses that remain constant regardless of the level of production or output in a business operation.
Average Fixed Cost
the total fixed costs divided by the number of units produced, illustrating how fixed costs dilute with increased production.
Average Variable Cost
The total variable costs of production divided by the number of units produced, representing the variable cost per unit.
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